XRPUSD, Steps Leading Into Coordinated Breakout With Potential!

Hello Traders Investors And Community, Welcome to this update-analysis where we are looking at the XRPUSD, 12-hour timeframe perspective, the recent events, the developed structural formation, what we can expect the upcoming times and how to handle the situation appropriately. XRPUSD has confirmed the important resistance-cluster bearish to the downside as expected and set up to form the final wave E which can end up the whole wave-count, if you did not see this analysis already I highly recommend it to you by going on my account and watch it, now as XRPUSD has shown up with this proper dynamic I determined the important scenarios and likely outcomes to consider in the structure XRPUSD is currently building here.

Final Wave Development And Lower Support:
XRPUSD is currently forming the final wave E of the major wave-count XRPUSD is building in the descending-triangle-formation this wave-count will end properly when XRPUSD bounces in the lower support-cluster marked in orange where not only the lower boundary support is lying but also horizontal support in this range. The preceding established trendline which is holding there since 2019 is just too strong that XRPUSD does not manage to bounce properly in this range, the trend needs to gain concretely in volatility and speed to move below this strong cluster and this is at the moment not given therefore the chance for an initial bounce in this area which can be the origin of the wedge to confirm has a high likelihood to show up.

Outlook:
When XRPUSD manages to bounce properly within the underlying support cluster XRPUSD has to show further volatility finally moving above the upper boundary, when this happens with good pace and a decisive move above to close where it will complete the whole formation and activate upside targets, after that the best is a pull-back to the upper boundary and EMA structure confirming further movements in the right manner, when this happens it is a highly possible setup with solid potential. The whole mechanism can be traded either aggressively with immediate entry or conservative with entry after confirmation, although the immediate entry is also possible here the conservative will be the best option, traders need to decide according to individual risk-preferences.

In this manner, thank you for watching, good day my friends, and support for more market insight.
"Good luck is when opportunity meets preparation."

Information provided is only educational and should not be used to take action in the markets.

Comment:

Initial Analysis: